BREADSTUFFS.

Otago Daily Times, Issue 13811, 26 January 1907, Page 8

BREADSTUFFS.

Latest London advices report (lie Loudon wheat market as slightly firmer, ami several sales oE cargoes liavo been cabled (luring tho week. These include 10,500 quarters South Australian January shipment at 295. 7id, and two Australian cargoes at 29s Gd and 29s 9d respectively; also 16,000 quarters South Australian January shipment- at 29s 6d and 10,000 quarter's December shipment' »t 50s.' Writing under, date Loudon December H "Beerbohm" reports:— The market this \veek, without approaching activity, has shown decided firmness; there has been no sign of selling pressuro from any quarter, and in spite of the standing ohstaclo to any material improvement—viz., the \iurcuume.ra.livo, Hour trade, 'the stiffness of sellers is, iuul lias for quite a bug time past been such that where buyers have shown a, dosiro lo purchase for forwaid delivery, rattier higher prices have had to be paid. The instinct of the market, which seldom errs, is, therefore, in favour of a higher level of prices in the last lnu of the season than has oj). lained in tho first half thereof. Promises of superabundance, especially in American supplies, have so far not been fulfilled, but it is telerabiy evident that these promises are largely responsible for (ho comparatively low prices which have been current since the beginning of the i-cason.

Tho following interesting statistics, furnished liy the saiuu authority, threw contidembki light upon the wheat position : —

Last September \io gave tho reraid of the world's wheat production for the past hx years, which showed that tho present yew's crop exceeded that of any previous* your, being 1(1 million quarters larger than tliat of hat your, hitherto the largest on record. The incresso in tho world's wheat production of Into yews has been vary considerable, but it id doubtful whether this increase has been greater than that of tho worid's consumption. Iα America, Germany, and India tie consumption of -wheat is quite obviously far greater than it was 20 years ago, or ewn 10 years ago; the iucreiso is indeed, wo believe, more important thim that occiisioued by the ordinary increase of population. Tbo world's visible Bupply on December 1 affords, pe.rlia.ps, somo duo to this matter, aad it is, tltrefore, ,uit«cs%s w cfisiiwe, tliq ytssWa wljatt pro-

duolion, as officially estimated for the most parti with tho visible supply nt tho date named, during the past 14 years:— - World's ' World. , * Wheat crop. Visible supply Qnaitors. Quarters. IMG ~ .. 4.13,000,000 .. 39,185,000 I!) 05 .. : .. 432,000,000 .. 17,63u,000 190( .. .. 400,000,000 .. 18.G55.000 .1903 ~ .. 411,000,000 .. 16^50,000 1002 ~ .. :!95,250,000 ~ ]9,0J5,000 3031 .. .. 367,500,000 ~ 20,750,000 1900 .., .. 8)2,330,000 .. 20,850,000 1899 .. .. 360,000,00(1 ~ 29,230,000 1898 .. ~ :!C5,000,00D .. 13,600,000 1837 .. .. 233,000,000 .. 15,500,000 1898 .. .. 312,000,000 .. 19,300,000 ISD.S .. ~., 32fi,000,000 .. 22,500000 1834 ~. .. 330,000,000 .. 23,100,000 IKB . .. 320,000,000 .. 25,000,000 It is a noticeable fact, shown by this table, thai whilst in tlio four years ended 169(1, with all average world's crop of 322,1)J0,000 quarters, tlio visible supply on December 1 averaged 23,000,000 quarter?, during tlio yast four years, with an average crop of 417,000,000 q U ittei« tlio visible supply, four months after harvest, has averaged only 18,000,000 quarters. With regard to the worlds consumption of wheat, no dciimto figures are possible; that there is a yearly increase due to the ordinary increment in the population is, of course, evident, but circumstances may easily nd<l k>, or dimmish, tho normal rale. Very bigli or very low price?, a failure of tho poUto°crop or a failure of tho rye crop, all must, to aoruo extent, affect tho ra-to of consumption; but under normal circumstances a yearly increase of 1J per cent, may be assumed as a. minimum. At such a. rate of increase it would result that tho world's consumption in the present year would be 85,000,000 to 90 000,000 greater than in 1833, and is now progressing at the annual rate, of over 0,000,000 quarters per annum. This view of the international wheat trade is apt lo be forgotten wlicn comparisons arc made with former years of tho world's wheat production.

Tho Commonwealth market exhibits interesting and somewhat unlookcd for featured Thus, while Sydney quotations aro slightly firmer at 2s lid, end the Melbourne manket is unchanged at 2s IOJd, Adelaide shows a drop of 3d per bushel and stands at £5 7Jd. Tho explanation lies in ,th« fact that tho .farmers in New South ■ft ales and Victoria are disinclined to sell at current rates, preferring to store their wheat and itwait a better market, a condition of things made possible owing to their improved financial position. In South Australia, on the other hand, prices liavo dropped to UlO level of London parity. The situation is explained more fully "in the following Australian advices:—

It has become quite evident during tho past few days (remarks the Sydney Mail of the 16th lnst.) that (v great miuiy farmers aro not inclinoJ to sell -tlrar new wheat at tho current equivalent of 2s IOJd per bushel, Darling Harbour. In a number of cases growers are arranging to send their grain iu to bo stored as they are doubtless oi tho opinion that values cannot recetlo much, while, on U-β other hand, thero is tho possibility of prices improving when tho heavy and cheaper offerings in Londou from tlio Argentina have been absorbed. Exporting firms have been able up to the present, however, to purchase sufficient for their immediate shipping wants, and owing to tho quiet and inactive- condition of the European markets they aro porhaps just as well pleased that they aro not being rushed by the farmers with wheat. As against the inability of the skipping firms to advance rate, one or two of the big millers, anxious to pick tho eyes out of tho wheat offerin" have been paying an extra }d, and oven Jd, for good parrels of really prime grain. Thero aro large quantities of inferior NewSouth Wales wheat about this year (reports tho Sydney Town and Country Journal). This continued rainy ond muggy weather does considerable damage to tho quality of the grain. In somo of tho northern districts, including portions of Invarell, the wheat crops that have not already been taken off are ruined hv the wet.

The local wheat market (says tlie Austialasian) has been maintained somewhat better than was to have been expected from tho weak condition of tho London market, i'bis has been duo to the moderate supplies offering from the country, inconsiderable ie. ductiou boing shown in the figures above quoted as compared with Issfc season; and as there has boon a fair demand from shippers and millers prices have not receded to i.he 6Mne extent as at Home, Tlio quantity already shipped from Victoria is smaller than to the same date last seasou, nnd the work of loading vessels h>3 been going on in a Ecmewhtrt deliberate fashion.

lhe local wheat market is a shade easier, owing to tho satisfactory turnout of the lino of Melboimo wheat just landed. Tho eamplo is small berried, but clean, hard, and dehoioualy nutty., Submitted to a test it will grist 45 bushels to tho ton of flour as against 47 to 48 bushels of New Zealand wheat. This makes it fully Id per bushel better vahio than the Home-grown article. Further supplies are «i tho way, purchased at a shade less money, and this had had a quietening effect upon the local market It is reported that tho (irsfc lino oE new Canterbury wheat-a. sample of pearl-has been purchased by a Chrietohurch miller at 2s lid at sidings, ami it is anticipated that tho now wheat will open at from 2s 10d to Ss lid on tracks. Meanwhile- millers aro purchasing sparingly of old wheat/and despite the failure of the crops round about Oamaru, the trend of prices is towards an easier market.

l'ovil feed continues scarce and dear, the small supplies in storo me 4ieJne taken for •local orders at. up to 3s 4d. Shippers arc drawing supplies from the north on the 'basis of 3a 3]d f.q.b., s.i. Thoro is no cliango in flour, tlio drop in tho Invercargill price has stopped importations to that market, and no Australian flour is advised as coming to the looa.l market. The XW Zealand Flour Millers' Association's tariff remains as follows: — Sacks, £3 15s per ton; 100's, £,9 ss; 50*8, £9 10s; 25's, £9 15s. Tho slipping price remains at £8 10s per ton f.o.b. TJioro is a brisk demand for offal, and ramors aro altogether unable to keep pace with the orders. Pollard is quoted at £4 10s for both local arid shipping orders; and kirn at £4- for local orders, and £3 15s f.o.b. for shipment. The oats market fully maintains i(a firmness, but the business passing is limited, owing both to the high prices ruling and to tho smallness of available stocks. Samples of now Canterbury oats have, been shown on this market, but the quality is poor. Still reports indicate that there will bo ,i good crop in tho north, whilst Southland expects to havo an abundance. Until, however, tho new crop comes on to the market in any quantity, jiricea limy bo expected to rule firm. Millers aro paying 2s 6d and 2s 6d for oats, ■which aro iiltle more than B grade, ex store, whilst Bluff lioldcra are asking 2s Sd f.0.b., e.i,- for B grado Garlons.

Owing to tho advance in outs the price of oatmeal has risen to £13 .per ton. Pearl barley is unchanged at £14 10s.

PRODUCE MARKET. The potato market is easier, and Up-to-Datee and British Queens aro seJlng at from £6 10s to £8; Peninsula-grown, Id per lb.

There is no < change in tho butter market. Farmers' pats aro worth to Bdswarator pats. _ MM to lid; separator bulk, 9d to 10d. Kirst-grndo factory is quoted as follows -.—Prints, lljd booked and ll>d cash; bulk, 11-Jd. Milled butter, is quoted at 9jd f.o.b. for first-grade, and 9d for second-grade.

Quotations for chceso are to 6|d for factory mcilimns, and Akaroa is obtainal)le at 6d.

Eggs are in firm demand, and command lid to Is por dozen. Tho poultry market is over-supplied. Current, quotations uro as follow:—Hens. Is 6d to 2s; roosters, 3s 6d per pair; ducklings. 4s; geese, 6s; turkeys-hens sd, gobblers 7d to Sd per lb. Tho demand for piijs continues easy. Baconers aro worth 4id and porkers 4d. Bacon remains at 7|d, and hams at Sd. Oliaff.—Very choice oiiafl' i :1 inquired for at 8s 6d, and prime sampled find ready s;i at from £5 to £5 5s

FRLIT AND VEGETABLES. The arrivals for the week included 150 cases from Sydney and 200 eases of Messina oranges and lemons. Cherries are in short supply, only four boxes arriving by the Melbourne boat. A fairly kreo coiisißiiment of Auckland-grown and Teviotjjrown fruit came to hand during the week, and Christchuivh tomatoes were- in fair supply. Consignments of California!! oran.aes am expected on Monday. Current quotations are as follow:— Oranges.—Messina.', 14s to 15s per ease. Naminas.-Ripc repacks, 12s 6d to 14s per cu.-e. I-rfMiions.—Messinas, half-eases, 12s to 13s; casps, 265. Applet-Auckland l !, Is Gd to 3s per bos; local cookers, 4s 6d to 6s per case. J'eais, from 5s to fe per ease. rhims.-Burbanks (from Auckland), 2s 0d to (k 9(1 per ease; Christclmrch-grown, from 4s to 4s 6d per box; Teviot jam plums, Ud por II). PmclioS.—Teviot jam sorts, 2id to 3.U1 ppr Ib; ulioice. up to sd. AprieoU.-Jams, 2U\ i 0 3|d; choice, no to 4^l. Clicrrics.—Clioiee, 16? 9d per half-case. Uoosoberrics.—Ripe. 2d to 3<l per )b. Rasi)be.rries. sd. to 6d per lb. Currants.—Black, 3d to 3UI; red, 2'< l to 3d. Cucumbei6.-Outfiido grown Is 6d to 2e 6d por box; hothouse very plejitifu] 2j 4d to .4s 6d par down; 4ucWa?d U 6d to 2s 6d PP.t 'box.

Tomatoes,—Auckland-grown, 83 to 10s Gd per box for choice; inferior, 2* 6d to 3s 6d per box; hothouse, 6d por lb; Canterbury, hothouse, 6jd to 3d; local, 3d to lOcb Grapes.—Local hothouse, Is 3d to Is 6d. Clover Honey.—Scarce and good inquiry. Small consignment realised 3s 9d per 101b tin. New season's—Northern 4jd, southern HA to 4d (in bulk). Peanuts,—Japaneso (large), 3d. Coeoinuts 9s to 10s per sack.' Brazil nuts, lOd; walnuts 7d to 7id pot lb. Vegetables.—Cauliflowers Is W to is per Mck; cabbage 6(1 to Is 6d: greeu pcaa (choice). l£d to 2d per lb; .French beans, 2Jd to 3d. Onions, £6 per ton. NVe are requested to state that the above quotations for produce, fruit, and vegetables are current wholesale prices between agents and distributors. •c